Prasa’s board met on Wednesday to finalise the details of the BBBEE component of Gibela Rail Transportation, which was the winning bidder of the first contract in Prasa’s R123.5-billion rolling stock fleet renewal programme.

The programme of upgrading and expanding the current rail infrastructure would be rolled out over 20 years.

The consortium, comprising French multinational Alstom and local engineering company Actom, secured the first ten-year rolling stock supply contract with delivery of the first of 3 600 trains in 2015.

The second ten-year contract would start from 2025.

Prasa, which had already secured R40-billion in funding from government for the Gibela contract, was currently negotiating with the National Treasury for another R11-billion.